Swmg LLC Invests $513,000 in Tesla, Inc. (NASDAQ:TSLA)

Swmg LLC acquired a new stake in Tesla, Inc. (NASDAQ:TSLA) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,962 shares of the electric vehicle producer’s stock, valued at approximately $513,000.

A number of other large investors have also recently added to or reduced their stakes in TSLA. NBC Securities Inc. lifted its holdings in Tesla by 50.7% in the second quarter. NBC Securities Inc. now owns 4,361 shares of the electric vehicle producer’s stock valued at $862,000 after acquiring an additional 1,467 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its position in Tesla by 7.4% in the second quarter. Canandaigua National Bank & Trust Co. now owns 1,314 shares of the electric vehicle producer’s stock valued at $260,000 after purchasing an additional 90 shares during the period. U.S. Capital Wealth Advisors LLC raised its position in Tesla by 8.7% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 8,205 shares of the electric vehicle producer’s stock valued at $1,624,000 after purchasing an additional 659 shares during the period. BDF Gestion purchased a new stake in Tesla in the second quarter valued at approximately $9,459,000. Finally, CCM Investment Advisers LLC raised its position in Tesla by 1.4% in the second quarter. CCM Investment Advisers LLC now owns 36,749 shares of the electric vehicle producer’s stock valued at $7,272,000 after purchasing an additional 508 shares during the period. 66.20% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Tesla

In related news, SVP Xiaotong Zhu sold 297 shares of the firm’s stock in a transaction dated Friday, September 6th. The shares were sold at an average price of $221.77, for a total value of $65,865.69. Following the completion of the sale, the senior vice president now owns 67,491 shares in the company, valued at $14,967,479.07. This trade represents a 0.44 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Vaibhav Taneja sold 7,000 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $354.43, for a total transaction of $2,481,010.00. Following the completion of the transaction, the chief financial officer now directly owns 105,032 shares of the company’s stock, valued at approximately $37,226,491.76. This trade represents a 6.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 420,577 shares of company stock worth $135,230,506 over the last 90 days. Company insiders own 20.70% of the company’s stock.

Tesla Price Performance

Shares of TSLA opened at $357.93 on Thursday. Tesla, Inc. has a fifty-two week low of $138.80 and a fifty-two week high of $361.93. The company has a market capitalization of $1.15 trillion, a price-to-earnings ratio of 98.06, a price-to-earnings-growth ratio of 11.41 and a beta of 2.36. The firm has a 50-day simple moving average of $280.65 and a 200-day simple moving average of $235.96. The company has a debt-to-equity ratio of 0.08, a quick ratio of 1.37 and a current ratio of 1.84.

Tesla (NASDAQ:TSLA) last announced its earnings results on Wednesday, October 23rd. The electric vehicle producer reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.14. The business had revenue of $25.18 billion during the quarter, compared to the consensus estimate of $25.47 billion. Tesla had a net margin of 13.07% and a return on equity of 10.24%. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 earnings per share. On average, equities research analysts anticipate that Tesla, Inc. will post 1.99 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the company. Phillip Securities lowered Tesla from a “moderate sell” rating to a “strong sell” rating in a research report on Wednesday, November 13th. Roth Capital raised Tesla from a “hold” rating to a “strong-buy” rating in a research report on Monday. HSBC reissued a “reduce” rating and issued a $124.00 target price on shares of Tesla in a research report on Friday, October 11th. The Goldman Sachs Group upped their price objective on Tesla from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Thursday, October 24th. Finally, Piper Sandler upped their price objective on Tesla from $310.00 to $315.00 and gave the stock an “overweight” rating in a research report on Friday, October 25th. Nine equities research analysts have rated the stock with a sell rating, sixteen have given a hold rating, fifteen have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $243.75.

Tesla Profile

Tesla, Inc designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. The company operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, body shop and parts, supercharging, retail merchandise, and vehicle insurance services.